Window Manager for tty?
The package screen is something that has been around for a long time.
With screen, you can have many session running on on tty, and you can switch to another session with out touching a mouse. With the proper configuration, you can get notified if there is some change (like if you have a IM client up) or if there is no output (say, if you are watching a compile session).
You are in the zone working, and then you notice the time, and you have to log out and go home. Is this a problem? No, with a simple d, you can disconnect the screen session, log out, go home, log back into that machine, and resume your session just where you left off.
One of the other really feature is cut and paste between sessions. The is very handy when adapting code (or articles) into a new file.